The Louisiana Public Service Commission has greenlit SWEPCO's proposal to issue customer refunds to rectify a discrepancy found in the 2023 Formula Rate Plan. SWEPCO's customers in Louisiana will start receiving these refunds in the form of bill credits starting in July.
"We asked the commission to review the error as soon as possible so SWEPCO customers could start receiving benefits this summer," commented Tom Brice, Jr., SWEPCO's Vice President of Regulatory and Finance. "We appreciate the Commission’s thoughtful and timely approval."
New Formula Rate Plan Explained
During the preparation of this year's new Formula Rate Plan, SWEPCO uncovered a $23 million overstatement in a revenue line item, affecting only their Louisiana customers. As a result, a rate refund rider will be incorporated in the July, August, and September billing cycles. The amount each customer receives as a refund is determined by their electricity usage and additional guidelines established by the commission.
Customers seeking further assistance with their bills can access an online tool provided by SWEPCO, which offers various options to suit different budgetary needs.
